Bill > S1303

This bill amends existing law to revise the distribution of property tax revenue between taxing districts and revenue allocation areas. Specifically, it requires that in the case of a revenue allocation area first formed or expanded on or after July 1, 2022, a portion of the taxes levied by the taxing district on the taxable property within the revenue allocation area must be allocated to the taxing district, in addition to the amount produced by applying the taxing district's tax rate to the base assessment roll. This additional allocation to the taxing district is set at 5% of the balance otherwise due to the urban renewal agency. The bill also makes changes to the treatment of taxes levied by highway districts in revenue allocation areas. The bill has an emergency clause and takes effect on July 1, 2022.

Budget and Finance, Justice

Local Government and Taxation Committee (S)

https://legislature.idaho.gov/sessioninfo/2022/legislation/S1303/